Many consumers are unaware of the warranty and insurance services that they paid for when they purchased an item. Others are aware of these benefits but are unwilling to expend the effort to retain the purchase records and to complete the appropriate forms to take advantage of these benefits when the item is lost or malfunctions. In yet other cases, consumers are aware they have warranty coverage but are unsure whether they need to contact the retail merchant, the manufacturer, their insurance agent and/or their credit card company. As a result, consumers waste millions of dollars annually by purchasing new items or repairing their existing items at their own expense.